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Chevron and Eni have made a “significant” gas discovery in the Eastern Mediterranean, the companies announced in separate statements yesterday (here andhere, pdf). The discovery was made at their Nargis offshore block off the coast of North Sinai, in which each company holds a 45% interest, while state-owned Tharwa Petroleum holds the remaining 10%. Both […]
Author Archives: enterpriseam admin
Posted inLEGISLATION WATCH
New VAT exec regs just dropped
The Finance Ministry has issued the amended executive regulations for the VAT Act, which contain new targeted tax breaks designed to support manufacturing and boost exports. The amendments were published in the Official Gazette late last week. The provisions are aimed at: #1- Supporting capex in the industrial sector: Purchases of machinery by companies in […]
Posted inLEGISLATION WATCH
Changes to Police Authority Act get thumbs up from House + Unified Ins. Act is back
The House of Representatives gave final approval to amendments to the law regulating police officers’ performance and disciplinary measures against them. Under the amendments to the Police Authority Act, only the general director of the Interior Ministry’s disciplinary department will have the power to take action against police officers, taking away powers from security chiefs. […]
Posted inMoves
MAF gets a new CEO + Mopco appoints acting chairman, MD
Emirati retail conglomerate Majid Al Futtaim (MAF) has appointed Ahmed Galal Ismail (LinkedIn) its CEO, replacing Alain Bejjani (LinkedIn), who had headed up the group for eight years, the company announced in a statement Friday. Ismail has been CEO of MAF Properties since 2018. Bejjani was one of the country’s highest-profile CEOs and had been […]
Posted inLAST NIGHT’S TALK SHOWS
Striking gas + price hikes coming for meds?
The talking heads honed in on Chevron and Eni’s “significant” EastMed gas find last night (more on that in today’s Energy section.) Elsewhere, the pundits aired a warning that meds could be about to get pricer on the back of the latest EGP deval and looked at new measures to subsidize bread. The price of […]
Posted inEGYPT IN THE NEWS
More love for Shubeik Lubeik + High praise for the IMF agreement
It’s a mixed bag for mentions of Egypt in the foreign press this morning. The prizewinning graphic novel Shubeik Lubeik by Egyptian author Deena Mohamed is getting more love from the foreign press: The Guardian and NPR sit down for separate interviews with Mohamed to find out about her story and what inspired the book, […]
Posted inUncategorized
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